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Personal Property. The Senate passed into law the amendments to the tax
The Senate of the Nation approved the amendments to the title tax, effective for fiscal year 2021.
The main changes are detailed below:
– Non-taxable minimum: it is increased up to $6,000,000 (six million pesos) (previously $ 2,000,000).
– Dwelling House Exemption: it is increased up to the amount of $30,000,000 (thirty million pesos) (previously $18,000,000).
– It is established, effective as from fiscal year 2022, the annual update by means of the CPI index of the amounts referred to in the preceding points, as well as the parameters of goods in the scales that determine the applicable rate.
– The scale for determining the tax on the country’s assets is updated, incorporating a marginal rate of 1.50% for taxable assets exceeding $100,000,000 and 1.75% for taxable assets exceeding $300,000,000.
– With respect to foreign goods, the current scale remains unchanged, with a maximum rate of 2.25%. The executive branch is delegated the power to reduce the rates applicable to this type of property during the term of the tax.
Publication in the Official Gazette is pending.
Earnings. Release for certain salaries and SAC exemption
The Senate also approved, together with the aforementioned amendments, the delegation to the National Executive Power to increase during fiscal year 2022 the amounts of gross salaries that are covered by the benefit of income tax exemption, as well as the amount of gross salaries with respect to which the tax on the Supplementary Annual Salary is exempted.
The current amount established for the year 2022 is $225,937 gross monthly average.
Tax on Bank Credits and Debits. Extension to re-register in the “Tax Benefits Registry”.
The term to re-register in the “Registry of Tax Benefits in the ICDB” is extended until March 15, 2022, in order to keep the effects of the registration already registered, in view of the amendments made to Decree 380/01 by Decree 301/21.
> For more information on General Resolution 5130/2021 click here
Tax on bank credits and debits. Exemption for livestock consignees
The exemption on accounts used exclusively by Livestock Consignees, involving third parties’ funds movements, is incorporated to Decree 380/01, as long as they are registered and active in the REGISTRO ÚNICO DE OPERADORES DE LA CADENA AGROINDUSTRIAL (RUCA) (Sole Registry of Operators of the Agribusiness Chain).
> For more information on Decree 897/2021 click here
Autonomous City of Buenos Aires. Amendments to the Tax Code and Tariff Law 2022
The Legislature of the Autonomous City of Buenos Aires approves the amendments applicable to taxes, rates and contributions for the fiscal year 2022.
We highlight the following modifications:
– The maximum annual income threshold for the application of reduced rates for services, communications and rents in gross income is increased to $179,000,000.
– The maximum annual income threshold for the exemption of income from industrial processes in gross income is increased to $243,100,000.
– The amount of the homestead rental exemption is increased to $43,000 per month per dwelling for owners with up to two rented dwellings in gross income.
– The categories of the simplified gross income regime are updated.
– The amount exempted from stamp tax for the purchase and sale of real estate for the purpose of a single, family and permanent occupancy dwelling is increased to $6,250,000.
> For more information on Annex I of the Tax Code of the Autonomous City of Buenos Aires click here
> For more information on Annex I Tariff Law for the year 2022 click here
Province of Buenos Aires. Modifications to the Tax Code and Tax Law 2022
The Legislature of the Province of Buenos Aires approves the amendments to the Tax Code and the Tax Law, applicable to taxes, rates and contributions for the fiscal year 2022.
We highlight the following modifications:
– The maximum annual income threshold for the application of the general gross income tax rate for commercial activities is increased to $156,780,000 (if exceeded, aggravated rates apply). The maximum amount to enjoy reduced tax rates for wholesale and retail commercial activities is increased to $6,030,000.
– The maximum annual income threshold for the application of the reduced rate of 4.5% for income from service activities in gross income is increased to $117,585,000. Likewise, the maximum annual income threshold for the application of the 4% tax rate is increased to $1,959,750.
– The scales in the tax on the free transfer of goods are modified.
> For more information on the Official Gazette of the Province of Buenos Aires click here